#IEA
OPEC expects world oil demand to reach 118.9 million bpd by 2045, which is around 2.9 million bpd higher than earlier projections
OPEC’s report points to an oil supply deficit in coming months
Near-term growth in global oil and liquids production will be driven primarily by the US, Guyana, Canada and Brazil, offsetting voluntary production cuts by OPEC+
OPEC and the IEA, the world’s most closely watched forecasters of oil demand growth, are further apart than they have been for at least 16 years in their views on fuel use
High-level roundtable convened countries from around the world to discuss actions needed to achieve key energy targets agreed at COP28 and keep 1.5 °C goal within reach
The exits of some players may make it easier for renewable energy companies to raise prices to a sustainable level and to ramp up investment
The appetite for liquefied natural gas is expected to grow by 3.4 per cent a year through 2035, outpacing other fossil fuels
Oil prices have retreated 6 per cent this month as the contagious delta variant triggers renewed lockdowns in China and other key Asian consumers
The oil market has been hit hard in 2020, with prices plummeting to record lows
The agency said demand growth in 2017 is likely to be flat at around 1.3 million barrels per day